Veidekke ASA: Building 130 homes at Løren in Oslo

Veidekke ASA: Building 130 homes at Løren in Oslo

21.01.2019 - 17:15

Veidekke Entreprenør has signed a contract to build the fourth stage of the Gartnerkvartalet residential development with Lørenvangen Utvikling AS (jointly owned by OBOS Nye Hjem and Veidekke Eiendom). The value of the contract is NOK 290 million excluding VAT.

“Sales have been very good for Gartnerkvartalet. The combination of small and large apartments with underground parking, balconies, roof terraces, several types of garden allotments and not least large open green spaces is something buyers obviously have appreciated. Our goal is to build good neighbourhoods, and here everything is coming together,” says Managing Director Øyvind Moen of Veidekke Eiendom.

This fourth building stage comprises a building 9 and 10 storeys in height with 130 homes, underground parking and additional underground parking for the subsequent stage. There is a broad selection of 2, 3, and 4 room apartments, where the apartments on the ground floor will have their own garden allotment or spacious terrace. Upon completion, a ball court will be established in a section of the spacious courtyard. As an extension of the green vision, common allotments will be established in addition to a pergola as a meeting place in the courtyard.

Gartnerkvartalet is an extension of the neighbouring Gartnerløkka project, and when completed it will comprise a total of 540 homes in seven blocks of flats built in several stages. The blocks of flats will surround a large, sunny courtyard nearly 10,000 square metres in size with bushes, trees and allotment gardens. The first residents moved in in the late summer of 2018. The total sales value of all of the homes in Gartnerkvartalet is around NOK 2.5 billion. The overall sales ratio for the project is currently at approximately 80%.

Excavation work for the fourth building stage is completed, and work on the basement is currently ongoing. Completion of the homes is scheduled for the fourth quarter of 2020.

Veidekke is one of Scandinavia's largest construction and property development companies. The company undertakes all types of building construction and civil engineering contracts, develops residential projects, maintains roads, and produces asphalt and aggregates. The company is known for its involvement and local knowledge. Revenue is almost NOK 32 billion, and half of the 8,000 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.